Vietnam’s annual inflation rate rose to 5.60% in May 2026 from 5.46% in April, marking the highest level since January 2020. The acceleration was driven largely by faster price growth in transport (12.48% vs 11.08% in April), reflecting elevated energy costs amid ongoing tensions in the Middle East.
Additional upward pressure came from several categories, including housing and construction materials (8.19% vs 7.95%), culture, entertainment and tourism (2.91% vs 2.71%), garments, hats and footwear (2.37% vs 2.29%), beverages and tobacco (4.29% vs 4.21%), and healthcare services (1.19% vs 1.11%).
By contrast, price growth eased for food (5.03% vs 5.20%), information and communication (0.07% vs 0.24%), and other goods and services (4.22% vs 4.52%).
On a monthly basis, consumer prices increased by 0.29% in May, decelerating from a 0.84% rise in April. Meanwhile, annual core inflation was broadly stable at 4.67% in May, edging up from 4.66% in the previous month and remaining at its highest level since March 2023.